Unashamedly Upbeat about the Mega Prospects of Disko7 Feb 2024 16:42
“This is the best Norilsk analog in the world,” House had said before the trip, referring to a Siberian deposit site that was originally mined by Gulag prisoners under Stalin. Today, a company called Nornickel is the world’s largest producer of refined nickel, and its mines in the Norilsk region produced more than 4 percent of global cobalt in 2021. Over the past decade, the deposit has helped generate more than $120 billion in revenue.
Among the earliest Western geologists to visit Norilsk, then part of the USSR, was a man named Peter Lightfoot. His knowledge is “encyclopedic,” according to House, who sought him out as one of KoBold’s earliest hires. A Canadian mining firm, Falconbridge (subsequently and coincidentally acquired by Glencore), had asked Lightfoot to evaluate Disko’s deposits back in the 1990s. At an early KoBold staff meeting, he had wowed his new colleagues by recalling the Falconbridge data with unfathomable precision—“It was almost like a parlor trick,” House says. But by the time Gertler was beginning his DRC copper-cobalt acquisitions in earnest, the then independent Falconbridge had abandoned further exploration on Disko after several drill holes turned up zip. It was an all too common cost-related decision in the boom-and-bust mining industry, but it left behind some tantalizing breadcrumbs.
“It has all of these signals, it has all of the right rocks, and it’s still not tested,” Lightfoot told me of the territory that is now the center of his focus (link below).
Dr. Lightfoot (RNS 09.08.2021): "The Disko-Nuussuaq Property is centred in a region of extensive contaminated and metal-depleted volcanic centres where there is clear evidence for the equilibration of flood basalt magma with crustal sulfur with potential for the concentration of magmatic sulphides in shallow sub-volcanic intrusions. The rich inventory of government and exploration data provides an excellent starting point for KoBold to utilize proprietary technology to support exploration. After working on the Noril'sk mineral system and applying the ideas to help Falconbridge with their exploration work, it is exciting to see this work come to fruition."
Never mind what JAY say about Disko, Kurt House (CEO) and Dr. Lightfoot (Chief Geologist - Nickel) at KoBold must know what they are talking about. For this and other reasons, I am unashamedly upbeat about the potential mega prospects of Disko. The question is how will the market react if - following the drilling campaign(s) - the assay results (lab results) confirm the concentration and grade of the minerals at Disko and justify the asset to be classed as world-class?
Dated May 2022 - http://tinyurl.com/y36vbrhu
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